21,300 Shares in PulteGroup, Inc. $PHM Bought by Channel Wealth LLC

Key Points

• Channel Wealth LLC has acquired a new stake in PulteGroup, Inc., purchasing 21,300 shares valued at approximately $2,246,000.
• PulteGroup reported a quarterly earnings per share (EPS) of $3.03, exceeding analysts' expectations of $2.92 but facing a 4.3% decline in revenue year-over-year.
• The company is set to pay a quarterly dividend of $0.22 on October 2nd, translating to an annual yield of 0.7%.

Channel Wealth LLC acquired a new stake in PulteGroup, Inc. (NYSE:PHM - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 21,300 shares of the construction company's stock, valued at approximately $2,246,000.

Several other hedge funds also recently bought and sold shares of PHM. WPG Advisers LLC bought a new position in PulteGroup during the 1st quarter valued at about $25,000. Ameriflex Group Inc. purchased a new stake in PulteGroup during the fourth quarter worth approximately $37,000. American National Bank & Trust purchased a new stake in shares of PulteGroup in the first quarter valued at $39,000. Catalyst Capital Advisors LLC acquired a new stake in shares of PulteGroup in the first quarter valued at about $54,000. Finally, Quarry LP raised its stake in PulteGroup by 43.8% during the 1st quarter. Quarry LP now owns 571 shares of the construction company's stock valued at $59,000 after acquiring an additional 174 shares in the last quarter. Hedge funds and other institutional investors own 89.90% of the company's stock.

Analyst Ratings Changes

PHM has been the topic of a number of research analyst reports. Oppenheimer increased their price target on PulteGroup from $132.00 to $140.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 23rd. Zacks Research upgraded shares of PulteGroup from a "strong sell" rating to a "hold" rating in a research report on Friday, August 29th. Seaport Res Ptn raised shares of PulteGroup from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 22nd. Raymond James Financial reissued an "outperform" rating and set a $140.00 price target (up from $115.00) on shares of PulteGroup in a report on Wednesday, July 23rd. Finally, Wells Fargo & Company upped their target price on shares of PulteGroup from $135.00 to $150.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $136.46.

PulteGroup Stock Performance

PulteGroup stock traded down $2.15 during mid-day trading on Friday, reaching $131.95. 5,783,612 shares of the company traded hands, compared to its average volume of 1,945,900. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.77 and a quick ratio of 0.77. The company has a market capitalization of $26.03 billion, a price-to-earnings ratio of 9.86, a price-to-earnings-growth ratio of 0.39 and a beta of 1.27. PulteGroup, Inc. has a fifty-two week low of $88.07 and a fifty-two week high of $149.47. The firm's fifty day moving average is $125.53 and its two-hundred day moving average is $110.34.

PulteGroup (NYSE:PHM - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The construction company reported $3.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.92 by $0.11. The company had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.42 billion. PulteGroup had a net margin of 15.50% and a return on equity of 21.01%. The firm's quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.83 earnings per share. On average, equities research analysts expect that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 16th will be paid a $0.22 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $0.88 annualized dividend and a dividend yield of 0.7%. PulteGroup's dividend payout ratio (DPR) is presently 6.58%.

PulteGroup Company Profile

PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. It acquires and develops land primarily for residential purposes; and constructs housing on such land. The company also offers various home designs, including single-family detached, townhomes, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, John Wieland Homes and Neighborhoods, and American West brand names.